Finance Authority First Port Authority to Access Reserves

June 26, 2015

The Finance Authority is pleased to announce it is the first Port Authority to access the Ohio Energy Loan Loss Reserve Program. It is one of eight Ohio Port Authorities eligible to receive collateral enhancement from the program for energy efficiency projects. The Finance Authority received $301,050 in additional reserves to enhance the credit strength of the Trinity Lutheran Seminary energy efficiency project.

“The state’s program is providing innovative financing to encourage Ohio businesses to make energy efficiency improvements. It helps entities like the Finance Authority make loans for energy projects where collateral is typically more challenging to find. We are pleased to have been the first port authority to access this new program.” Jean Carter Ryan, President of the Columbus-Franklin County Finance Authority

“The Loan Loss Reserve Program will help complete energy efficiency projects across the state, reducing energy use and costs for Ohio businesses, communities and nonprofits”, said David Goodman, director of the Ohio Development Services Agency.

The Loan Loss Reserve program offers collateral enhancement to eligible Ohio Port Authorities as they originate loans for energy projects. For more information on the Ohio Energy Loan Loss Reserve Program and a list of participating ports, visit development.ohio.gov or call (614) 466-4007.

For more information visit our website or contact Jean Carter Ryan, President of the Finance Authority at (614) 429-0177 or [email protected]

The Finance Authority gratefully acknowledges support received from the Franklin County Board of Commissioners and the City of Columbus.